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Most people say: sil-o-sigh-bin
Also common: sigh-lo-sigh-bin, sigh-lo-sib-in (less common)
Hard to take into account differences in regional accent, so any of those is "correct" -- or at least, no one will care if it isn't...

Proper latin for psilocybe would probably be "sil-os-uh-bee" (like "philosophy") but if you say that you'll look like a smart prick.